ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Another Mis-adventure

Oilseeds Ablaze Nishtar WHEN Nature proposes and Government disposes, God alone can save the poor consumer. Reports that the Political Affairs Committee of the Union Cabinet had approved proposals to fix groundnut prices and to create a buffer stock had set the oilseeds market aflame. These flames have spread on reports that the Committee's proposals have now been given a concrete shape. Oilseeds futures have been rigged further; since the beginning of November cottonseed and linseed have been marked up by Rs 11 a quintal and castor futures have risen by Rs 7. Even spot groundnut oil prices which had started declining under the pressure of increasing arrivals have turned firm and moved up by Rs 300 a tonne. What is more, December position has begun to command premium over the spot quotation.

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